30 Best Cities for Young Professionals
The younger generations, especially millennials, often get a bad rap for their work ethic. But in 2016, they surpassed Generation Xers ? ages 39 to 54 in 2019 ? to become the single largest generational group in the U.S. labor force, according to the Pew Research Center.
Millennials and Generation Z members currently make up over a third of the workforce. This number will increase to 58% in the next decade, with younger generations dominating the working class. And they are flocking to cities where jobs are in abundance and wages are high. Whether recent graduates or several years into their careers, many young professionals are more flexible when it comes to moving to a new city for better opportunities. But which city will give these career starters the best chance for success?
To find the 30 best cities for young professionals, GOBankingRates looked at 100 of the most populous cities in the United States and analyzed each city based on the median annual rent for a one-bedroom apartment and the percentage of the population ages 20 to 34. This age group then was evaluated based on the unemployment rate, labor force participation, median income and the annual cost of living. Finally, the cities were ranked, with No. 30 being good and No. 1 being absolute best. While you won’t find New York City or Los Angeles on this list, there are plenty of affordable options where millennials and Gen Z can flourish.
Last updated: Oct. 20, 2020
30. Charlotte, North Carolina
Median annual rent for a one-bedroom apartment: $16,063.50
Percentage of population ages 20-34: 24.94%
Unemployment rate
Ages 20-24: 13%
Ages 25-29: 7.4%
Ages 30-34: 5.2%
Labor force participation rate
Ages 20-24: 79%
Ages 25-29: 87.9%
Ages 30-34: 87.5%
Median income
Ages 25 and under: $17,369.77
Ages 25-34: $39,878.13
Annual cost of living (excluding housing)
Ages 25 and under: $8,845.61
Ages 25-34: $15,759.43
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29. Norfolk, Virginia
Median annual rent for a one-bedroom apartment: $13,182.75
Percentage of population ages 20-34: 33.5%
Unemployment rate
Ages 20-24: 12.5%
Ages 25-29: 8.8%
Ages 30-34: 7.7%
Labor force participation rate
Ages 20-24: 81.5%
Ages 25-29: 83%
Ages 30-34: 83.1%
Median income
Ages 25 and under: $13,839.93
Ages 25-34: $31,774.19
Annual cost of living (excluding housing)
Ages 25 and under: $8,358.45
Ages 25-34: $15,021.72
28. Oklahoma City
Median annual rent for a one-bedroom apartment: $9,310.50
Percentage of population ages 20-34: 23.31%
Unemployment rate
Ages 20-24: 8.2%
Ages 25-29: 4.5%
Ages 30-34: 4.1%
Labor force participation rate
Ages 20-24: 77.8%
Ages 25-29: 82.1%
Ages 30-34: 81.6%
Median income
Ages 25 and under: $14,066.03
Ages 25-34: $32,293.29
Annual cost of living (excluding housing)
Ages 25 and under: $8,716.34
Ages 25-34: $15,602.16
27. Pittsburgh
Median annual rent for a one-bedroom apartment: $13,215
Percentage of population ages 20-34: 32.93%
Unemployment rate
Ages 20-24: 8%
Ages 25-29: 6.8%
Ages 30-34: 5.6%
Labor force participation rate
Ages 20-24: 68.1%
Ages 25-29: 84.4%
Ages 30-34: 84.3%
Median income
Ages 25 and under: $12,924.43
Ages 25-34: $29,672.37
Annual cost of living (excluding housing)
Ages 25 and under: $8,914.91
Ages 25-34: $15,594.44
26. Fort Wayne, Indiana
Median annual rent for a one-bedroom apartment: $7,419.75
Percentage of population ages 20-34: 21.96%
Unemployment rate
Ages 20-24: 11.7%
Ages 25-29: 6.6%
Ages 30-34: 6.7%
Labor force participation rate
Ages 20-24: 82%
Ages 25-29: 86.9%
Ages 30-34: 81.6%
Median income
Ages 25 and under: $12,425.86
Ages 25-34: $28,527.72
Annual cost of living (excluding housing)
Ages 25 and under: $7,602.28
Ages 25-34: $13,372.24
25. Durham, North Carolina
Median annual rent for a one-bedroom apartment: $14,515.50
Percentage of population ages 20-34: 26.88%
Unemployment rate
Ages 20-24: 8%
Ages 25-29: 5.6%
Ages 30-34: 5.8%
Labor force participation rate
Ages 20-24: 67.7%
Ages 25-29: 84.8%
Ages 30-34: 86.8%
Median income
Ages 25 and under: $16,101.79
Ages 25-34: $36,967.05
Annual cost of living (excluding housing)
Ages 25 and under: $8.170.68
Ages 25-34: $14,579.98
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24. Chandler, Arizona
Median annual rent for a one-bedroom apartment: $14,370
Percentage of population ages 20-34: 20.85%
Unemployment rate
Ages 20-24: 7.6%
Ages 25-29: 5.5%
Ages 30-34: 3.7%
Labor force participation rate
Ages 20-24: 84.4%
Ages 25-29: 85.2%
Ages 30-34: 84.7%
Median income
Ages 25 and under: $20,740.81
Ages 25-34: $47,617.48
Annual cost of living (excluding housing)
Ages 25 and under: $9,273.75
Ages 25-34: $16,309.21
23. Plano, Texas
Median annual rent for a one-bedroom apartment: $14,133.75
Percentage of population ages 20-34: 18.8%
Unemployment rate
Ages 20-24: 7.6%
Ages 25-29: 2.8%
Ages 30-34: 4.6%
Labor force participation rate
Ages 20-24: 72.5%
Ages 25-29: 86.6%
Ages 30-34: 82.3%
Median income
Ages 25 and under: $21,671.90
Ages 25-34: $49,755.10
Annual cost of living (excluding housing)
Ages 25 and under: $8,293.95
Ages 25-34: $14,696.85
22. Irving, Texas
Median annual rent for a one-bedroom apartment: $14,719.50
Percentage of population ages 20-34: 26.08%
Unemployment rate
Ages 20-24: 8.2%
Ages 25-29: 3.3%
Ages 30-34: 4.7%
Labor force participation rate
Ages 20-24: 77.3%
Ages 25-29: 84.6%
Ages 30-34: 83.3%
Median income
Ages 25 and under: $19,090.79
Ages 25-34: $43,829.30
Annual cost of living (excluding housing)
Ages 25 and under: $9,221.09
Ages 25-34: $16,136.22
21. Virginia Beach, Virginia
Median annual rent for a one-bedroom apartment: $13,107
Percentage of population ages 20-34: 24.21%
Unemployment rate
Ages 20-24: 9.5%
Ages 25-29: 7.6%
Ages 30-34: 4.2%
Labor force participation rate
Ages 20-24: 84.6%
Ages 25-29: 87.3%
Ages 30-34: 85.8%
Median income
Ages 25 and under: $18,967.27
Ages 25-34: $43,545.73
Annual cost of living (excluding housing)
Ages 25 and under: $8,941.94
Ages 25-34: $15,944.73
20. Saint Paul, Minnesota
Median annual rent for a one-bedroom apartment: $14,324.25
Percentage of population ages 20-34: 27.27%
Unemployment rate
Ages 20-24: 10.5%
Ages 25-29: 5.7%
Ages 30-34: 5.2%
Labor force participation rate
Ages 20-24: 80.4%
Ages 25-29: 87.2%
Ages 30-34: 87.1%
Median income
Ages 25 and under: $15,320.07
Ages 25-34: $35,172.35
Annual cost of living (excluding housing)
Ages 25 and under: $8,940.05
Ages 25-34: $15,603.40
19. Nashville, Tennessee
Median annual rent for a one-bedroom apartment: $17,402.25
Percentage of population ages 20-34: 27.32%
Unemployment rate
Ages 20-24: 9.7%
Ages 25-29: 4.5%
Ages 30-34: 3.4%
Labor force participation rate
Ages 20-24: 76.8%
Ages 25-29: 85.9%
Ages 30-34: 87.2%
Median income
Ages 25 and under: $16,836.73
Ages 25-34: $38,654.35
Annual cost of living (excluding housing)
Ages 25 and under: $8,851.99
Ages 25-34: $15,949.36
18. Kansas City, Missouri
Median annual rent for a one-bedroom apartment: $11,866.50
Percentage of population ages 20-34: 24.37%
Unemployment rate
Ages 20-24: 9.1%
Ages 25-29: 5.3%
Ages 30-34: 5.4%
Labor force participation rate
Ages 20-24: 81.1%
Ages 25-29: 86.5%
Ages 30-34: 86.6%
Median income
Ages 25 and under: $14,152.62
Ages 25-34: $32,492.07
Annual cost of living (excluding housing)
Ages 25 and under: $8,403.38
Ages 25-34: $14,912.16
17. Orlando, Florida
Median annual rent for a one-bedroom apartment: $15,964.50
Percentage of population ages 20-34: 29.59%
Unemployment rate
Ages 20-24: 9.9%
Ages 25-29: 6.3%
Ages 30-34: 4.8%
Labor force participation rate
Ages 20-24: 78.7%
Ages 25-29: 88.8%
Ages 30-34: 90.3%
Median income
Ages 25 and under: $15,761.61
Ages 25-34: $36,186.04
Annual cost of living (excluding housing)
Ages 25 and under: $9,295.20
Ages 25-34: $16,303.61
16. Anchorage, Alaska
Median annual rent for a one-bedroom apartment: $10,807.50
Percentage of population ages 20-34: 25.73%
Unemployment rate
Ages 20-24: 7.5%
Ages 25-29: 5.9%
Ages 30-34: 4.2%
Labor force participation rate
Ages 20-24: 83.9%
Ages 25-29: 87.4%
Ages 30-34: 85.4%
Median income
Ages 25 and under: $23,049.45
Ages 25-34: $52,917.73
Annual cost of living (excluding housing)
Ages 25 and under: $9,881.29
Ages 25-34: $17,476.32
15. Lexington, Kentucky
Median annual rent for a one-bedroom apartment: $9,669.75
Percentage of population ages 20-34: 26.35%
Unemployment rate
Ages 20-24: 7.5%
Ages 25-29: 7.1%
Ages 30-34: 6%
Labor force participation rate
Ages 20-24: 75.7%
Ages 25-29: 84.7%
Ages 30-34: 87.7%
Median income
Ages 25 and under: $13,756.63
Ages 25-34: $31,582.95
Annual cost of living (excluding housing)
Ages 25 and under: $7,991.68
Ages 25-34: $14,095.35
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14. Des Moines, Iowa
Median annual rent for a one-bedroom apartment: $11,292.75
Percentage of population ages 20-34: 24.16%
Unemployment rate
Ages 20-24: 10.8%
Ages 25-29: 6%
Ages 30-34: 5.4%
Labor force participation rate
Ages 20-24: 83.1%
Ages 25-29: 86.8%
Ages 30-34: 86.7%
Median income
Ages 25 and under: $14,095.58
Ages 25-34: $32,361.12
Annual cost of living (excluding housing)
Ages 25 and under: $7,851.97
Ages 25-34: $14,116.55
13. Omaha, Nebraska
Median annual rent for a one-bedroom apartment: $9,920.25
Percentage of population ages 20-34: 23.13%
Unemployment rate
Ages 20-24: 7.7%
Ages 25-29: 5.1%
Ages 30-34: 2.9%
Labor force participation rate
Ages 20-24: 82.3%
Ages 25-29: 85.2%
Ages 30-34: 85.2%
Median income
Ages 25 and under: $14,237.56
Ages 25-34: $32,687.09
Annual cost of living (excluding housing)
Ages 25 and under: $8,475.91
Ages 25-34: $15,307.32
12. Scottsdale, Arizona
Median annual rent for a one-bedroom apartment: $17,310
Percentage of population ages 20-34: 17.97%
Unemployment rate
Ages 20-24: 5.2%
Ages 25-29: 2.8%
Ages 30-34: 2.9%
Labor force participation rate
Ages 20-24: 81.7%
Ages 25-29: 89.9%
Ages 30-34: 85.1%
Median income
Ages 25 and under: $21,972.28
Ages 25-34: $50,444.72
Annual cost of living (excluding housing)
Ages 25 and under: $9,205.45
Ages 25-34: $16,204.01
11. Lubbock, Texas
Median annual rent for a one-bedroom apartment: $7,259.25
Percentage of population ages 20-34: 29.39%
Unemployment rate
Ages 20-24: 7%
Ages 25-29: 3.8%
Ages 30-34: 4.5%
Labor force participation rate
Ages 20-24: 67.6%
Ages 25-29: 81.5%
Ages 30-34: 83.1%
Median income
Ages 25 and under: $12,060.64
Ages 25-34: $27,689.25
Annual cost of living (excluding housing)
Ages 25 and under: $7,593.34
Ages 25-34: $13,648.83
10. Boise, Idaho
Median annual rent for a one-bedroom apartment: $12,342
Percentage of population ages 20-34: 23.41%
Unemployment rate
Ages 20-24: 7.5%
Ages 25-29: 5.9%
Ages 30-34: 4%
Labor force participation rate
Ages 20-24: 82.1%
Ages 25-29: 87.1%
Ages 30-34: 84.3%
Median income
Ages 25 and under: $13,132.89
Ages 25-34: $30,150.95
Annual cost of living (excluding housing)
Ages 25 and under: $7,802.83
Ages 25-34: $13,821.44
9. Columbus, Ohio
Median annual rent for a one-bedroom apartment: $10,757.25
Percentage of population ages 20-34: 29.23%
Unemployment rate
Ages 20-24: 9.7%
Ages 25-29: 4.8%
Ages 30-34: 4.4%
Labor force participation rate
Ages 20-24: 76.7%
Ages 25-29: 85.8%
Ages 30-34: 86.7%
Median income
Ages 25 and under: $15,797.72
Ages 25-34: $36,268.95
Annual cost of living (excluding housing)
Ages 25 and under: $8,349.01
Ages 25-34: $14,700.84
8. Denver
Median annual rent for a one-bedroom apartment: $19,687.50
Percentage of population ages 20-34: 28.72%
Unemployment rate
Ages 20-24: 6.5%
Ages 25-29: 4.1%
Ages 30-34: 3.7%
Labor force participation rate
Ages 20-24: 78.8%
Ages 25-29: 88.5%
Ages 30-34: 88.2%
Median income
Ages 25 and under: $19,549.97
Ages 25-34: $44,883.51
Annual cost of living (excluding housing)
Ages 25 and under: $9,296.46
Ages 25-34: $16,264.84
7. Austin, Texas
Median annual rent for a one-bedroom apartment: $15,900
Percentage of population ages 20-34: 30.34%
Unemployment rate
Ages 20-24: 7%
Ages 25-29: 3.7%
Ages 30-34: 3.6%
Labor force participation rate
Ages 20-24: 70.4%
Ages 25-29: 88.2%
Ages 30-34: 87%
Median income
Ages 25 and under: $20,160.58
Ages 25-34: $46,285.35
Annual cost of living (excluding housing)
Ages 25 and under: $9,024.70
Ages 25-34: $15,792.54
6. Raleigh, North Carolina
Median annual rent for a one-bedroom apartment: $13,128.75
Percentage of population ages 20-34: 27.63%
Unemployment rate
Ages 20-24: 7.4%
Ages 25-29: 5.8%
Ages 30-34: 3.1%
Labor force participation rate
Ages 20-24: 71%
Ages 25-29: 88.5%
Ages 30-34: 88.1%
Median income
Ages 25 and under: $18,727.22
Ages 25-34: $42,994.60
Annual cost of living (excluding housing)
Ages 25 and under: $8,353.08
Ages 25-34: $14,852.32
5. Seattle
Median annual rent for a one-bedroom apartment: $24,569.25
Percentage of population ages 20-34: 30.78%
Unemployment rate
Ages 20-24: 8.3%
Ages 25-29: 3.7%
Ages 30-34: 3.3%
Labor force participation rate
Ages 20-24: 76.4%
Ages 25-29: 89.7%
Ages 30-34: 90.6%
Median income
Ages 25 and under: $23,025.65
Ages 25-34: $52,863.09
Annual cost of living (excluding housing)
Ages 25 and under: $9,376.66
Ages 25-34: $16,123.76
4. Minneapolis
Median annual rent for a one-bedroom apartment: $18,138
Percentage of population ages 20-34: 32.13%
Unemployment rate
Ages 20-24: 7.6%
Ages 25-29: 5.7%
Ages 30-34: 5.3%
Labor force participation rate
Ages 20-24: 82.2%
Ages 25-29: 90.2%
Ages 30-34: 89.7%
Median income
Ages 25 and under: $16,954.09
Ages 25-34: $38,923.79
Annual cost of living (excluding housing)
Ages 25 and under: $8,962.03
Ages 25-34: $15,641.66
3. Lincoln, Nebraska
Median annual rent for a one-bedroom apartment: $10,038
Percentage of population ages 20-34: 26.91%
Unemployment rate
Ages 20-24: 6.4%
Ages 25-29: 3.7%
Ages 30-34: 3.3%
Labor force participation rate
Ages 20-24: 80.7%
Ages 25-29: 87%
Ages 30-34: 86.4%
Median income
Ages 25 and under: $13,764.42
Ages 25-34: $31,600.85
Annual cost of living (excluding housing)
Ages 25 and under: $8,014.11
Ages 25-34: $14,490.16
2. Arlington, Virginia
Median annual rent for a one-bedroom apartment: $24,936.75
Percentage of population ages 20-34: 32.6%
Unemployment rate
Ages 20-24: 6.7%
Ages 25-29: 3.3%
Ages 30-34: 2.7%
Labor force participation rate
Ages 20-24: 80.2%
Ages 25-29: 91.2%
Ages 30-34: 92.3%
Median income
Ages 25 and under: $37,812.67
Ages 25-34: $86,811.65
Annual cost of living (excluding housing)
Ages 25 and under: $9,794.41
Ages 25-34: $17,014.78
1. Madison, Wisconsin
Median annual rent for a one-bedroom apartment: $12,960
Percentage of population ages 20-34: 35.33%
Unemployment rate
Ages 20-24: 5.8%
Ages 25-29: 2.7%
Ages 30-34: 2.4%
Labor force participation rate
Ages 20-24: 77.5%
Ages 25-29: 90.1%
Ages 30-34: 90.1%
Median income
Ages 25 and under: $16,821.13
Ages 25-34: $38,618.55
Annual cost of living (excluding housing)
Ages 25 and under: $8,229.05
Ages 25-34: $14,579.91
More From GOBankingRates
Methodology: GOBankingRates, in order to find the 30 Best Cities for Young Professionals, looked at 100 of the most populous cities in the United States as sourced from the 2017 American Community survey conducted by the United States Census Bureau. GOBankingRates then analyzed the cities using the following criteria: (1) percent of the population aged 20 through 34; (2) Unemployment Rate among 20 – 24 Year Olds; (3) Unemployment Rate among 25 – 29 Year Olds; (4) Unemployment Rate among 30 – 34 Year Olds; (5) Labor Force Participation Rate among 20-24 Year olds: (6) Labor Force Participation Rate among 25-29 Year olds; (7) Labor Force Participation Rate among 30-34 Year olds (%); (8) Median Income for Non-families Under 25; (9) Median Income for Non-Families 25 – 34 year olds, all sourced from the 2017 American Community survey conducted by the United States Census Bureau and factored out using the Bureau of Labor Statistics’ 2018 Consumer Expenditure Survey; (10) average Annual 2019 Median Rent for a one bedroom apartment as sourced from Zillow, (11) annual cost of living expenditures excluding housing for those 25 and under; and (12) annual cost of living expenditures excluding housing for those 25 through 34, both based on the Bureau of Labor Statistics’ 2018 Consumer Expenditure Survey and local cost of living indices sourced from Sperling’s Best Places. All factors were scored and then combined, with the lowest score being best, to determine the final rankings. Factors 8 and 9 were weighted 0.5 times. All data was collected and is up to date as of Sept. 26, 2019.
This article originally appeared on GOBankingRates.com: 30 Best Cities for Young Professionals
